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India's Reliance re-evaluates 20% stake sale in oil-to-chemicals unit to Aramco
Nov. 22, 2021
Source: I.C.I.S

India's Reliance re-evaluates 20% stake sale in oil-to-chemicals unit to Aramco

SINGAPORE (ICIS)--Reliance Industries Ltd (RIL) and Saudi Aramco have decided to re-evaluate the energy giant's proposed $15bn investment to acquire a 20% stake in RIL's oil-to-chemicals (O2C) business, the Indian chemicals major said late on Friday. The two companies in August 2019 signed a non-binding letter of intent that proposes that Aramco would acquire the stake in Reliance’s refining, petrochemicals and fuels marketing businesses.

Adani Group To Invest $20 Billion In Renewable Energy
Sept. 22, 2021
Source: NDTV

Adani Group To Invest $20 Billion In Renewable Energy

Billionaire businessman Gautam Adani on Tuesday announced that his conglomerate will be investing $20 billion during the course of the next 10 years in the renewable energy segment and will also produce the world's cheapest green electron. Mr Adani, who was addressing an investor summit, said that the investment will be made in renewable energy generation, component manufacturing as well as transmission and distribution. The Adani Group has been active in the renewable sector segment for many years now and interestingly the announcement about investing such a quantum of money in the sector has come just weeks after Reliance Industries Limited chairman Mukesh Ambani had said in June that he would be investing ₹ 75,000 crore over the next three years in clean energy and hydrogen fuel.

In rural Karnataka, businesses powered by solar energy clean up
Sept. 20, 2021
Source: Livemint

In rural Karnataka, businesses powered by solar energy clean up

Kumar disconnects the device from the machine to demonstrate how they used to spin ropes manually. Suddenly, clanking sounds echo through a yard that had been so quiet you could hear the bulbuls chirp on the moringa tree there. Earlier, he explains, one person would have to keep spinning a wheel behind the machine; today the solar-powered small motor does the job. Work that would require at least 10 hours of hard labour from a minimum of three individuals is now done by two persons in a little more than half the time.

Solar power boost to Andhra Pradesh’s farming sector
Sept. 17, 2021

Solar power boost to Andhra Pradesh’s farming sector

In a big boost to the state’s energy sector, the Solar Energy Corporation of India has come forward to supply about 9,000 mw to meet the demand of agriculture pumpsets. SECI has promised to supply power at Rs 2.49 per unit, the lowest rate in the country. The state government had recently floated tenders to set up 6,400 mw plants for the agriculture sector. However, the finalisation of bids was delayed due to a pending litigation in the high court. The SECI offer comes at a time when the state government was contemplating to finalise the bids after getting the clearance from the high court. The state government has already identified the land to set up the mega solar parks. The SECI, however, wants the state government to purchase power from the plants to be launched by the agency. The government is expected to take a call on the issue soon.

Maharashtra: State signs MoU worth Rs 35,000 crore in renewable energy sector
Sept. 15, 2021

Maharashtra: State signs MoU worth Rs 35,000 crore in renewable energy sector

In a boost to investment in Maharashtra during the pandemic, the state government’s Industry Department on Tuesday signed two MoUs under the Magnetic Maharashtra 2.0 initiative with JSW, worth Rs 35,500 crore in the renewable energy sector. As per the MoUs, the company plans to invest Rs 35,500 crore in the state by setting up a hydro-based power project of 1,500 MW power generation in villages like Jammde, Kalbhonde and Kothale near Igatpuri in Nashik district, and wind power projects of 5,000 MW power generation across 1,870 hectares in Kolhapur, Solapur, Satara and Osmanabad. The project, which will take 18 months to start, will supply cheap and green renewable power round-the-clock and help Maharashtra decrease its reliance on non-renewable energy.

Mining & Steel Company ArcelorMittal Plans $9 Billion Renewable Energy Investment In India
Sept. 13, 2021
Source: Clean Technica

Mining & Steel Company ArcelorMittal Plans $9 Billion Renewable Energy Investment In India

One of the world’s largest mining and steel manufacturing companies — ArcelorMittal — has announced grand plans to develop renewable energy assets in India. According to media reports, ArcelorMittal has expressed interest in developing renewable energy projects in the Indian states of Rajasthan and Gujarat. The company is believed to have proposed a 4.5-gigawatt solar park in Rajasthan with an estimated investment value of $2.6 billion. The news reports, however, did not mention the timeline for development of this project. In the recent past, Rajasthan has attracted investment in solar power park development from many private companies in India. These include Adani and IL&FS. These ventures have been highly successful with associated project auctions yielding some of the lowest tariff bids in India.

India, Denmark agree on further engaging in renewable energy
Sept. 10, 2021

India, Denmark agree on further engaging in renewable energy

Union Power and New & Renewable Energy Minister R K Singh on Thursday met his Danish counterpart Dan Jrgensen where both agreed on further engagement in renewable energy, especially offshore wind and green hydrogen. "Union Minister for Power and New and Renewable Energy R K Singh met with Dan Jrgensen, Danish Minister for Climate, Energy and Utilities, here today (Thursday)," the Ministry of New and Renewable Energy said in a statement.

NTPC to partner NIIF, ONGC to buy green energy projects
Sept. 7, 2021
Source: Livemint

NTPC to partner NIIF, ONGC to buy green energy projects

NTPC Ltd, India’s largest power generator, plans to partner with National Investment and Infrastructure Fund (NIIF), the country’s quasi-sovereign wealth fund, and Oil and Natural Gas Corporation (ONGC) to acquire and develop green energy assets, including offshore wind projects. The plans were contained in a letter to shareholders by NTPC chairman and managing director Gurdeep Singh in the company’s annual report for FY21. “Further, efforts are on for partnering with NIIF and ONGC for exploring opportunities in acquisitions and development of renewable assets, including offshore wind," Singh said in his letter.

UK Partners with India to Invest in Green Projects, Renewable Energy to Tackle Climate Change
Sept. 4, 2021
Source: Weather.com

UK Partners with India to Invest in Green Projects, Renewable Energy to Tackle Climate Change

With the UK announcing a $1.2 billion package of public and private investment in green projects and renewable energy in India to tackle climate change. The climate advocates said that the partnership is a trendsetter for countries that how the public and private sectors can work together to speed the clean energy transition. This global partnership will boost private finance to support India's ambitious commitment to deploy 450 GW of renewable energy by 2030.

OVL, IOC sign pact with Russia's Gazprom
Sept. 4, 2021

OVL, IOC sign pact with Russia's Gazprom

ONGC Videsh Ltd, India's flagship overseas oil and gas firm, and the nation's largest refiner Indian Oil Corporation (IOC) on Friday signed agreements with Russia's Gazprom for cooperation in the hydrocarbon sector. Indian oil and gas companies are looking to acquire stakes in prolific oil and gas areas in Russia as part of a larger strategy to acquire equity oil and gas overseas that could offset the country's huge 85 per cent dependence on imports for meeting energy needs. OVL, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), inked MoUs on the sidelines of the Eastern Economic Forum at Vladivostok, the company tweeted.

India, UK agree on $1.2 billion investment in green projects and renewable energy
Sept. 3, 2021
Source: Money Control

India, UK agree on $1.2 billion investment in green projects and renewable energy

India and the UK on Thursday agreed on a USD 1.2 billion investment in green projects and renewable energy to boost India’s green growth ambitions at the 11th India-UK Economic and Financial Dialogue between Finance Minister Nirmala Sitharaman and her British counterpart Rishi Sunak, driving forward the bilateral agenda of an Enhanced Trade Partnership. Sitharaman and Sunak, who met virtually for the annual summit, signed off the USD 1.2-billion package of public and private investment in green projects and renewable energy in India.This includes a USD 1 billion investment from CDC, the UK’s development finance institution in green projects in India, joint investments by both governments to support companies working on innovative green tech solutions, and a new USD 200 million private and multilateral investment into the joint Green Growth Equity Fund which invests in Indian renewable energy.

Tata Power Renewable Energy commissions 150 MW solar project in Rajasthan
Aug. 25, 2021
Source: Business Today

Tata Power Renewable Energy commissions 150 MW solar project in Rajasthan

Tata Power arm Tata Power Renewable Energy Limited (TPREL) has commissioned a 150 MW Solar Power project in Rajasthan’s Loharki village. With the latest installation in Rajasthan, the total renewables installed capacity of Tata Power will be 2,947 MW (2,015 MW of solar and 932 MW of wind). Tata Power also has 1,084 MW of renewable projects under implementation. This project, spread across 756 acres of land, is expected to generate over 350 million units per annum. This installation is likely to reduce 3.34 lakh tons of carbon emission every year. Around 6.5 lakh modules, 48 inverters, 720 km of DC cable and 550 manpower have been utilised to ensure smooth processing of this installation, as per the official release.

India proposes new green energy rules to promote renewable power
Aug. 24, 2021
Source: Money Control

India proposes new green energy rules to promote renewable power

The Indian government has proposed a new set of rules “Draft Electricity (promoting renewable energy through Green Energy Open Access) Rules, 2021” for purchase and consumption of green energy, including the energy from waste-to-energy plants.The proposed rules aim to push for faster adoption of renewable power by addressing various concerns related to the green energy sector. The union power ministry has put the rules online on August 16 and sought comments from all stakeholders within 30 days.

Himachal Pradesh lights up rocky villages with solar power
Aug. 23, 2021

Himachal Pradesh lights up rocky villages with solar power

Remote rocky villages of Himachal Pradesh, where snowfall often damages electricity transmission lines for days and breathing kerosene fumes is the only option, are coming out of darkness with the government installing solar lights for individuals and community places. Also it is providing solar-run pump sets, cookers and lamps across the hydropower surplus state. Ram Singh, a villager in the remote Pangi Valley, told IANS over the phone that they had been literally living in darkness every winter. "As electricity remains snapped for days or even weeks with the onset of heavy snowfall, the kerosene lamps are the only option for every villager," he said.

GAIL to foray into hydrogen generation to scale up renewable energy portfolio
Aug. 23, 2021
Source: Mint

GAIL to foray into hydrogen generation to scale up renewable energy portfolio

As part of a push to embrace cleaner forms of energy, GAIL will be laying pipeline infrastructure to connect consumption centres to gas sources while also augmenting its renewable energy portfolio, GAIL Chairman and Managing Director Manoj Jain said. India's top gas company GAIL will foray into hydrogen generation and take the acquisition route to scale up its renewable energy portfolio as it pivots business beyond natural gas to align with energy transition being witnessed across the globe. As part of a push to embrace cleaner forms of energy, GAIL will be laying pipeline infrastructure to connect consumption centres to gas sources while also augmenting its renewable energy portfolio, GAIL Chairman and Managing Director Manoj Jain said.

Renewable energy investment in India beats Covid-19 lull
Aug. 20, 2021
Source: Hindustan Times

Renewable energy investment in India beats Covid-19 lull

Investments in the renewable energy sector in India are seeing growth again following the slowdown in the previous financial year due to the onset of the coronavirus disease (Covid-19) pandemic, a recent study by the Institute for Energy Economics and Financial Analysis (IEEFA) found. Between April and July this year, investment in the Indian renewable energy sector reached US$6.6 billion, surpassing the US$6.4 billion level record in the 2020-21 fiscal year.

India would reach target of 175 GW renewable energy generation by 2022
Aug. 20, 2021
Source: The Hindu

India would reach target of 175 GW renewable energy generation by 2022

Stressing on the Union government’s initiatives to tap renewable energy sources, Union Minister of State for Chemicals and Fertilisers, New and Renewable Energy Bhagawanth Khuba said that the country would meet its target of 175 GW of energy from solar, wind and other renewable sources. “We are already generating 101 GW from renewable sources. Projects with a combined installed capacity of 50 GW are in progress. Work on other projects with a combined installed capacity of 25 GW would begin soon. Keeping the growing energy requirement of the country in mind, we have set a target of 450 GW from renewable energy sources by 2030,” Mr. Khuba said at a media conference at a private hotel in Kalaburagi on August 18. The Minister was in the city to take part in his party’s Janashirvada Yatra.

India only country in G-20 which is moving fast towards achieving its climate goals: PM Modi
Aug. 16, 2021
Source: Energy World

India only country in G-20 which is moving fast towards achieving its climate goals: PM Modi

India is the only country in the group of G-20 countries which is moving fast towards achieving its climate goals, Prime minister Narendra Modi said on Sunday, asserting that it is giving equal emphasis to environmental security as to national security. Modi said India has also made a move towards electric mobility and the work on 100 per cent electrification of the railways is also progressing at a fast pace. The Indian Railways has set a target of becoming Net Zero Carbon Emitter by 2030. Along with all these efforts, the country is also emphasising on Mission Circular Economy, he said.

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